Summit Materials (SUM) Scheduled to Post Quarterly Earnings on Wednesday

Summit Materials (NYSE:SUM - Get Free Report) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect Summit Materials to post earnings of ($0.23) per share for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Summit Materials (NYSE:SUM - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The company had revenue of $613.13 million for the quarter, compared to analyst estimates of $560.90 million. During the same quarter last year, the firm posted $0.32 earnings per share. Summit Materials's revenue was up 19.8% compared to the same quarter last year. On average, analysts expect Summit Materials to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Summit Materials Stock Down 1.6 %

NYSE SUM traded down $0.63 during trading hours on Wednesday, reaching $38.93. 579,819 shares of the company's stock were exchanged, compared to its average volume of 967,007. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 16.36 and a beta of 1.32. The company's 50-day moving average is $41.90 and its two-hundred day moving average is $37.80. Summit Materials has a one year low of $26.18 and a one year high of $44.89.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research note on Friday, February 23rd. They issued an "overweight" rating and a $47.00 target price for the company. Royal Bank of Canada raised their price target on shares of Summit Materials from $39.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 14th. The Goldman Sachs Group boosted their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, March 14th. Barclays raised their target price on shares of Summit Materials from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, March 14th. Finally, Truist Financial increased their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.09.

About Summit Materials

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.